Riding on the growing wave of online shopping, the digital coupon industry also felt the benefits of the rapidly expanding market. Kulpreet Kaur, Co-founder of Shop Pirate Coupons takes a look back while crystal ball gazing for the future. Read on…
The year 2015 has been a great year for digital coupons industry. As was predicted in Mobile Commerce Daily report, all mobile users will search for a digital coupon in 2015. The report also predicted that about 96 per cent of all mobile users would search for coupons in 2015 to find the best deal and the greatest value when shopping online. And it actually happened, but of course not as high as 96 per cent.
A shift between desktop to mobile shopping was noticed due to increasing use of smartphones, tablets and broadband and 3G/4G internet availability. E-commerce has grown 10 times since last year and has become a $40 billion industry now, which makes it one of the most promising industries in India. A shift to buying online continued at a rapid pace and mobile redeeming of coupons through variety of devices is influencing this trend. 59 per cent of respondents stated that digital coupons and coupon codes are influenced their buying decisions compared to other means of promotions. No one likes to lose out on a deal. There’s a strong human emotion and motivation to capitalise on an opportunity to save.
Check out this infographic for the detailed understanding:
At ShopPirate.in, we have seen growing awareness among users for discount coupons and offers as compared to last year. Categories which ruled this year were recharges, cabs, on demand service like food delivery, laundry, etc. and electronics and gadgets. This year, another strategy by merchants that attracted users was ‘cashback’ option, which became a rage and more and more customers flocked for it. The market witnessed huge competition for cashback offered by banks and players like Mobiwik, Paytm, PayU, etc. Customer acquisition was achieved by rolling out exclusive discount offers and coupons.
Most of the players like Happy Checkout, Coupondunia and Shop Pirate Coupons enjoyed the benefits of online shopping festivals by e-commerce giants and the whole year has been productive due continuous online sales/shopping festivals. At Shop Pirate Coupons it was definitely a good year where the company received approx 60 per cent of their traffic from mobile.
The year 2015 has set an example for 2016 to follow. 2016 will be customer centric with focus on capturing each and every click of the user journey. We expect many more exclusive partnerships to get the best discounts for users. India will overtake the US as the second largest market for smartphones in the world by 2016 as smart mobile devices become affordable, global research firm eMarketer has predicted.
With the Indian government’s ‘Digital India’ Plan which promises that, by 2019, everyone in India will have a smartphone; the prospects of online shopping is only expected to grow. Overall, we expect to that digital coupons industry will grow 25 per cent in 2016.